Ohio University

Business Matters

Finance News and Announcements

August 8, 2018
Finance provides answers to purchasing and PCard questions

At the August 7 Business Forum participants asked questions about PCard use and the Affordability and Efficiency mandate requirements. Following are answers to those questions for the reference of anyone involved in purchasing activity on behalf of Ohio University.

August 3, 2018
Professional Development Pathways: Register for COA Fundamentals

The Chart of Accounts (COA) Fundamentals course is now available as a “core requirement” for the new Accounting and Purchasing certificates within OHIO Professional Development Pathways. This is an instructor-led course that is only offered at set times, so interested employees should discuss participation opportunities with their supervisors and register for one of the scheduled course times as soon as possible. For those who attended the Chart of Accounts Fundamentals course as part of the Financial System Enhancements project, the content has been updated to include additional information regarding the object segment and the function segment. References to the old Chart have been removed.

August 1, 2018
Budget updates
FY18: Fund Balance Timeline July 26 – Preliminary fund balance templates provided to planning units following second close July 31 – Open BPA Office Hours – Fund Balance Workshop                   1 – 4:30 p.m. in HRTC Rm 150     August...
July 11, 2018
Processing of lease expenses changes

Beginning July 1, Accounts Payable has changed the way lease invoices are processed. Previously, invoices for the entire fiscal year were entered at the beginning of the fiscal year. These invoices immediately debited expense accounts and released the encumbrance even though the expense was not paid immediately (it is paid out over the lease period by fiscal year).

July 2, 2018
BobcatBUY (BCB) changes explained
Single supplier per requisition BCB no longer allows multiple suppliers in the same requisition. It does still allow you to add multiple suppliers to the same cart. As of July 1, users will receive an error when attempting to submit a requisition containing multiple suppliers. The best practice is to create a new cart each time you are shopping ...
June 28, 2018
Changes in Micro-purchase threshold – effective July 1, 2018

As shared in the October 2017 and April 2018 Business Forum, the procurement changes required under Uniform Guidance take effect on July 1, 2018. These changes apply to all federal awards. A federal award can be determined by referring to the Award segment numbering in the chart of accounts. The Award number for a federal award starts with one of the following number schemes: 11XXXXX, 12XXXXX, 21XXXXX, 22XXXXX.